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What is Market Research

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Yeshwanth
What is Market Research

What is Market Research?

Market research is the process of researching and learning about your customer profiles and target audiences. Once you start to understand these profiles, you are then able to determine how successful your product or service will be amongst them, and if you need to adjust your marketing strategies accordingly. By understanding what your customers need and desire in a product or service, you’re offering them solutions that overtime, create loyalty and a connection.

 

Here are some ways market research can help: 

 

  1. Find where your target audience is, and where consumers conduct their own research on your product/service

  2. Which of your competitors your customers look to for information or buying options

  3. Trends within the industry and what buyers are flocking to

  4. Challenges of the market, and who makes up the market

  5. What influences purchases, and how to get an audience to convert

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Yeshwanth
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